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Quarterly Report On Consolidated Results For The Financial Period Ended 31/08/2018

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Unaudited Condensed Consolidated Statements Of Comprehensive Income
For The Quarter Ended 31 August 2018

Income Statement

Unaudited Condensed Consolidated Statements Of Financial Position
As Of 31 August 2018

Balance Sheet

Review of Performance

The Group registered an increase revenue for the year to date by 12% but a decrease of 5% on a quarter basis. This is mainly coming from the higher volume of sales from the agricultural components as well as TV back chassis. Despite the increase in revenue, the decrease in operating profits for the year were mainly due to the following:

Precision stamping & tooling segment

For the year to date, total revenue had increased by 16% to RM144.599mil on the back of higher sales from existing customers from the agricultural, industrial fan products and TV back chassis. Accordingly, the operating profit had also improved by 28% to RM8.030mil.

For Quarter 4 ended 31.8.2018, this division posted a better operating profit ofRM3.4 million despite a slight decrease in revenue. This is due to better margin from the higher sales of TV components to one of the key client and higher tooling and scrap sales as compared to Q4 FY20 17.

Printed circuit board ("PCB") & module assembly segment

On a quarter to quarter basis, revenue had increased 9% mainly from the higher volume of sales. Despite the higher revenue, operating profit declined due to the unrealized foreign exchange losses amounting to RMI2k in the current quarter as compared to previous quarter unrealized foreign exchange gain ofRMO.383mil.

On a yearly basis, revenue had increased by 14% as compared to prior year. This is due to overall higher volume of home shower product from one of the main customer. Despite the increase in revenue, operating loss had increased due to the following:

Without the above three expenses, this segment would have recorded a reduction in operating loss from RMO.551mil in prior year to RM0.473mil in the current year.

Renewable energy

The revenue and operating profit for the 4th Quarter and financial year ended showed a decline as compared to prior comparative period due to the lack in major Engineering, Procurement, Construction and Commissioning ("EPCC") engagement. In the prior year, 2 major EPCC projects were completed. In current year, there is an ongoing EPCC engagement where revenue and profit were recognized based on the estimated percentage of completion.

Current Year Prospects

The Board foresees the current year's prospect to be challenging due to the uncertain global economics environment which includes the fluctuation of Ringgit / USD foreign exchange rate and the expected rising of local operating cost. In addition, the increase in minimum wage effective January 2019 will impact manufacturers who are labor intensive. In view of that, the Company is always seeking new technology and machineries to be more efficient in its processes and optimize the labour headcount. The Group is also aware that the advent of OLED TV s will adversely impact the sales of back chassis and other metal components to our current TV clients. The OLED TV s are expected to have lower content of metal components. However, sales from our agricultural component have shown an increase on a yearly basis and we are optimistic that the sales from this segment will remain strong.

Despite the challenging business environment, the Group will continue its effort in promoting the EMS (Electronic Manufacturing Services) business, solar energy business, property development business and to widen its customer base.

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